Moody’s upgrades AerCap to investment-grade

Moody's Investors Service said it upgraded AerCap Holdings NV’s corporate family ratings to Baa3 from Ba1 and also upgraded the senior unsecured debt ratings of AerCap's subsidiaries.

The outlook is stable. This concludes the review initiated on Nov. 17.

Moody's said the upgrade is based on AerCap's strengthened competitive positioning in commercial aircraft leasing, improving fleet composition, and effective liquidity and lease risk management in advance of the increase in the company's scheduled deliveries of new aircraft from Boeing and Airbus over the next three years.

The upgrade also reflects the agency’s expectation that AerCap will continue to generate profitability and cash flows that compare favorably to peers while maintaining adequate capital strength and a strong liquidity runway.

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